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Clinical Data s Profits Fall by 59 Percent in Q3; Revenues Essentially Unchanged

NEW YORK, Nov. 15 (GenomeWeb News) - Clinical Data today announced a slight decrease in revenues and a 59-percent decrease in net income for the third quarter.

 

For the quarter ended Sept. 30, Clinical Data reported revenues of $12.9 million, down a hair from $13 million the same quarter a year ago. Clinical Data's net income decreased to $377,000, or $0.09 per basic share, in Q3, from $910,000, or $0.21 per basic share, in the year-ago period.

 

The company did not break out R&D expenses or cash on hand.

 

In October, Clinical Data closed on a $56 million acquisition of Genaissance.

 

"Our efforts at integrating the operations of Genaissance Pharmaceuticals are progressing well as we refocus Genaissance's service offerings and streamline its operations," Israel Stein, Clinical Data's president, said in a statement.

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